Survival Benefit. 3.1 If the Life Assured survives at the end of each Policy Year, the Company will pay a survival benefit of 1.55% of the Single Premium at the end of each such Policy Year. The last survival benefit will be payable together with the Maturity Benefit at the end of the final Policy Year.
3.2 When the Survival Benefit is payable, any cash loan attached to the Policy will be deducted from the Survival Benefit before the balance amount is paid.
Survival Benefit. If the Life insured survives and the policy is still in force at the payout date, you will receive the survival benefit according to the Survival Benefit Receiving Option that was selected. The survival benefit is the sum of;
a) total premiums paid on the basic policy;
b) reversionary bonus (if any); and
c) performance bonus (if any); less any outstanding amount owing to Us. You have the option of receiving the survival benefit either in a lump sum or in yearly payments of 5 or 10 years (via direct credit to your designated bank account). While you can choose one of these options at the application stage, if you did not state your choice of option, the default option is to receive the survival benefit in a lump sum at the end of the 15th policy year. You may write in to Etiqa to change the survival benefit receiving option at any time before the end of the 14th policy year.
(a) If you opt to receive the survival benefit in one lump sum at the end of the 15th policy year, the policy will end when we make this payment. This payment is the maturity benefit.
(b) If you opt to receive the survival benefit in 5 yearly payments, you will receive the amount including non- guaranteed interest* earned on the survival benefit balance starting from the payout date and every anniversary thereafter up to the 19th policy year, so long as your policy is valid. The yearly payment on the 19th policy year will be paid as the maturity benefit.
(c) If you opt to receive the survival benefit in 10 yearly payments, you will receive the amount including non- guaranteed interest* earned on the survival benefit balance starting from the payout date and every anniversary thereafter up to the 24th policy year, so long as your policy is valid. The yearly payment on the 24th policy year will be paid as the maturity benefit. Yearly payments cannot be deposited with Etiqa and we may change the interest rate at any time by giving you 30 days’ notice. *Interest earned each year will be spread over the remaining years.
Survival Benefit. Notwithstanding the occurrence of a Liquidating Event or dissolution of the Company, this Agreement shall continue in effect during the winding up of the Company. Thereafter, the provisions of Sections 5.10(c), 5.14, 5.15, 11, 17, 18, 19 and 21 of this Agreement shall survive any termination hereof. This Agreement is solely for the benefit of the parties hereto and their successors and permitted assigns. No third party is granted or shall have any rights hereunder.
Survival Benefit. In the event life insured survives to the end of premium paying term, we shall pay to you accrued bonuses till date. Your Policy Details shows the Income Benefit applicable to your policy. Starting from policy anniversary subsequent to the end of the premium paying term and on every policy anniversary thereafter till maturity you shall receive.
Survival Benefit. 3.3.1 Subject to Section 3.5 below, during the lifetime of the Life Insured, We shall pay every year 7.5% of Guaranteed Maturity Sum Assured, for 15 (Fifteen) years, on each Policy Anniversary starting with the Policy Anniversary immediately following or coinciding with the Life Insured attaining the Age of 61 (Sixty One) years till the Policy Anniversary following or coinciding with the Life Insured attaining the Age of 75 (Seventy Five) years.
